Blockchain Offers Multiple Benefits to Restaurants

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Blockchain is increasingly used in the food industry, and for restaurants in particular.

Blockchain technology can help improve food quality, increase transparency in supply chains, and reduce the risk of food contamination.

Blockchain can help restaurants and customers by providing transparency.

Blockchain technology can make food delivery faster and more secure.

While you might be thinking that only techies or financial experts care about blockchain, this couldn’t be further from the truth. As more people enjoy watching a video rather than reading, it would be a good content idea to post it on visual platforms such as Youtube.

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Blockchain technology is being applied to the food industry and restaurants in particular. Terms like bitcoin Blockchain have applications in almost every aspect of a restaurant’s business, from food sourcing to reviews and promotions.

It’s no secret that blockchain technology is transforming the way we do business. But how can restaurants today leverage this new technology?

Restaurants and blockchain

Before we get into the uses of blockchain in the food service world, let’s take a quick look at what it is. Blockchain is basically a ledger, similar to what every business already uses but not restricted just to financial information. In fact, any kind of data can be recorded and stored in this ledger.

What makes blockchain technology special is that it’s distributed, immutable, and it’s verified. This means that a ledger can be stored on multiple computers, entries cannot be changed once they are added, and all participants agree on the data placed within it. If, for instance, somehow on one computer a ledger entry is changed, the changes won’t be reflected in other copies—the consensus will be the valid entry.

Blockchain and food quality

Limiting the number of parties involved in food production can lower food quality and safety risks. Walmart is currently testing a blockchain-based system to track food from farm to store, aiming to increase food safety.

For example, if chicken from a specific farm is contaminated with salmonella, blockchain could trace it throughout the distribution cycle. Notifications could then be sent to those restaurants that received the tainted product, which might save a restaurant’s reputation.

Restaurants can use the blockchain ledger to keep track of food quality. For instance, if a restaurant receives consistently good or poor produce through a distributor, the owner can use the blockchain ledger to identify the source of the food in question and work with that vendor to increase orders from that source or eliminate that vendor if the product is poor quality.

Blockchain, smart contracts, and food assertions

Restaurants can use the blockchain ledger to keep track of food quality. For instance, if a restaurant receives consistently good or poor produce through a distributor, the owner can use the blockchain ledger to identify the source of the food in question and work with that vendor to increase orders from that source or eliminate that vendor if the product is poor quality.

If a vegan restaurant uses bread from a local bakery, they will want to validate that the ingredients used are free from dairy and eggs. However, the bakery may not be willing to share what ingredients they use, keeping their recipe a secret.

In this case, the restaurant could use a smart contract—or self-executing contract—that would place an order only when the bakery discloses its ingredients privately to the restaurant. These items would be kept in the chain to verify that ingredients had been validated while maintaining the bakery’s privacy for their proprietary recipe.

Similarly, food-tracking technology could be used to verify the origin of ingredients provided to a restaurant that boasts locally sourced ingredients. Consumers can independently verify their purchases against an immutable blockchain ledger that includes where the food is sourced, as well as whether or not the restaurant is living up to its claims.

Blockchain and quality reviews 

Restaurant reviews can be both helpful and harmful to the businesses they represent. Because reviews can be written anonymously, it’s difficult to know which comments are honest and which are fabricated to help or hurt an establishment.

Munchee and SynchroLife are looking to change the game. Both platforms reward reviewers with cryptocurrency tokens for contributing reviews on restaurants. These reviews are stored in a blockchain, so they can’t be altered or deleted, and users and restaurants can’t create new accounts to wipe away bad reviews. This keeps reviews honest, above-board and helpful to machine learning algorithms at SynchroLife.

Customer loyalty

Blockchain technology can help companies, and even groups of companies, create loyalty programs. National chains and small independent businesses can now offer unique rewards to their customers.

Chanticleer Holdings, the parent company of several restaurant chains including Hooters and American Burger Co., is implementing a loyalty program that will incorporate various aspects of their business.

Food delivery

If a third-party food delivery service uses blockchain, it can improve its product and customer service. For example, customers could check the quality of the food delivered before they eat it.

Blockchain technology eliminates the need for third parties, which gives restaurants and food delivery services a greater profit. Security is maintained by checking the credentials for the restaurant and delivery company and keeping customer data safe.

The greatest advantage of using blockchain for food delivery is faster and easier payments. Smart contracts handle business-to-business payments, so they don’t have to be handled manually for each transaction. It also speeds up the payment process for consumers.

Virtually hackproof

Blockchain technology has made the data collected through it virtually hack-proof and fraud-proof. If a security incident does occur, blockchain makes the culprit easily identifiable.

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